New measures introduced to help minimise property fraud, Grylls
Author: Brendon Grylls
Published on: 30-August-2011
Lands Minister Brendon Grylls today announced improved and refined measures to minimise the risk of registering fraudulent property transactions in Western Australia to be undertaken by State Government-agency Landgate.
One of the new safeguarding options is for overseas property owners to put a caveat over their property.
Mr Grylls said this could provide greater peace of mind to absentee owners, who are away.
“Any overseas property owner concerned about the possibility of identity theft is able to lodge a new caveat over their property which prevents unlawful change of ownership,” he said.
The only way to remove the caveat is for the owners to attend in person at the Landgate Midland office and identify themselves to the satisfaction of the registrar. The minimum requirement for identification is the 100 point check.
More rigour of other processes has been implemented to help protect property owners.
“All transactions will undergo extra scrutiny to ensure they are independently checked by at least two senior Landgate officers, including a senior examiner who will confirm evidence of a 100-point check,” Mr Grylls said. “This stage of the process will also involve the examiner confirming the validity of the witness.”
Also, the Registrar of Titles will now only be satisfied with documents witnessed overseas by an Australian Consular Official and Landgate will confirm the witnessing, directly with the consular office.
“This means the registrar will require evidence that a 100 point identity check has been carried out by the conveyancer and it must accompany the transfer documents,” the Minister said.
“If confirmation isn’t provided, a stop will be put on the transaction.”
As of yesterday, Mr Grylls said 61,007 transfers had been registered since September 1, 2010.
“These will be reviewed,” he said. “So far, 34 per cent have gone through the first stage of the review process.”
Landgate is also considering extending its existing TitleWatch service so an email alert activates early in the process to advise the subscriber of a potential land transaction on their nominated land titles.
“What is most significant about this service is that notification will take place prior to settlement, and before the exchange of funds and issue of title,” the Minister said.
“While no-one can completely eliminate fraud, Landgate is working with industry to minimise the likelihood of further occurrences. They are not common given the high number of property transactions that take place.
“I am confident in the strength and integrity of the Western Australian Torrens Land Titling System and believe the community can be too.”
